Computer based accounting systems have been available for a number of years. These systems may be used to record and process accounting transactions or events. Typically, these systems have the ability to track accounts payable, accounts receivable, payroll, expenses, and so forth. Although these systems have a number of valuable uses, they also suffer from a number of shortcomings. These shortcomings are more readily apparent as the complexity and volume of the financial transactions being processed increases.
Many computerized accounting systems are not very flexible and are difficult to modify, especially at a high level. The inflexible nature of the accounting systems stems from accounting policies and data retrieval and processing functions being implemented throughout the system at varying locations and in varying forms. Any change to one single location may result in unforeseen changes throughout the system. Thus, any change in accounting policy, financial data, etc. often requires a significant amount of rewriting of the underlying code to implement the change.
Some applications where conventional accounting systems might be overly rigid include the amortization of large numbers of deferred price adjustments from loans, securities, etc. In particular, conventional accounting systems may be especially difficult to use to process large amounts of historical and/or prospective financial data. This problem may be particularly acute if changes must be made to the system before the data can be reprocessed.
An improved computerized accounting system is described herein that may be used to process financial data or transactions pertaining to financial instruments, such as loans, asset backed securities, and so on. In particular, the improved computer systems and methods may be used to perform financial accounting functions such amortizing loans, amortizing deferred price adjustments on the loans, securities, and guaranty fees, and the like. The improved computerized accounting system may be used to easily change various aspects of the system such as accounting policies, etc. The improved financial accounting systems and methods are intended to provide accurate and timely accounting of various accounting events.